Tennessee Department of Economic and Community Development Commissioner Bob Rolfe and i3 Verticals, LLC today announced that the integrated payment and software solutions company plans to expand its Middle Tennessee operations by establishing a new facility in Murfreesboro.

i3 Verticals will invest approximately $500,000 and create 42 new jobs in Rutherford County.

"I want to thank i3 for its investment in Rutherford County and for creating 42 jobs in Murfreesboro," Rolfe said. "Tennessee's strong workforce and business-friendly environment make our state the perfect location for tech companies like i3 and I appreciate the company for its continued commitment to Middle Tennessee and for creating even more high-quality jobs for our state."

i3 delivers integrated payment and software solutions to small- and medium-sized businesses and other organizations in strategic vertical markets, such as education, non-profits, the public sector, property management, health care and business-to-business (B2B) payments markets. i3 currently has operations across the U.S. including a facility in Nashville.

"We are delighted to be expanding i3 Verticals' deep Middle Tennessee roots to Murfreesboro and Rutherford County," Greg Daily, chairman and CEO of i3 Verticals, said. "Our company was founded and has been largely capitalized in Middle Tennessee, and the region's rapid growth has created a large, growing pool of talent and other resources. Rutherford County is a particularly attractive location for this important operations facility because it offers both an experienced and mature workforce and the ability to build our team locally over the longer term with qualified, technology-focused job seekers graduating from Middle Tennessee State University. We thank the State of Tennessee and Rutherford County for their efforts to facilitate this expansion."

i3 plans to renovate and occupy an 8,500-square foot facility in Murfreesboro. The company plans to begin construction on the new building in May 2018 and the facility is expected to be completed by July 2018.

"On behalf of the Murfreesboro City Council, I want to congratulate i3 Verticals for its decision to locate an operations center in our growing Fountains at Gateway," Murfreesboro Mayor Shane McFarland said. "Attracting high-paying jobs to our city and more specifically to the Gateway district with its attractive location and amenities is bearing fruit with smart business decisions like this one. We are pleased to see this integrated payment processing and software operation coming to Murfreesboro."

"We welcome i3 Verticals to our community," Destination Rutherford Chairman Bill Jones said. "The work they do and the jobs created will nicely complement our robust business environment in Rutherford County."

Murfreesboro and Rutherford County are represented by Sen. Bill Ketron (R - Murfreesboro), Sen. Shane Reeves (R - Murfreesboro), Rep. Tim Rudd (R - Murfreesboro), Rep. Mike Sparks (R - Smyrna), Rep. Bryan Terry (R - Murfreesboro) and Rep. Dawn White (R - Murfreesboro) in the Tennessee General Assembly.

More Details on the Company:

i3 Verticals, a leading provider of integrated payment and software solutions, has leased 8,500-square-feet of office space on the top floor of One Fountain Plaza at Fountains at Gateway, a Class A corporate office campus and retail district in Murfreesboro, announced developer Scott Graby, president of Hearthstone Properties.

According to Greg Daily, Chairman and CEO of i3 Verticals, the company plans to begin construction on the new office space in May 2018 and completion is expected by July 2018.

"We are delighted to be expanding i3 Verticals' deep Middle Tennessee roots to Murfreesboro and Rutherford County," commented Greg Daily. "Murfreesboro is a particularly attractive location for this important operations facility because it offers both an experienced and mature workforce and the ability to build our team locally over the longer term with qualified, technology-focused job seekers graduating from Middle Tennessee State University. We also found an outstanding facility at Fountains at Gateway, which we believe will be an attractive location for our employees and which we believe has the flexibility to meet our needs now and for the foreseeable future."

"Fountains at Gateway was designed to serve modern, technology-based corporate tenants such as i3 Verticals, with a walkable retail district that includes a variety of restaurants and shops as well as corporate putting greens and pocket parks for relaxation," said Graby. "i3 is a highly regarded and successful company, and it is truly a pleasure to welcome them as Fountain's first office user to enjoy the amenities and business lifestyle at Fountains."

Graby also announced that Hearthstone Properties has leased 6,700-square-feet of office space on the same floor for a conference center.

Fountains conference center will include 6,700-square-feet of meeting and event space as well as 1,900-square-feet of covered outdoor terrace space that wraps the conference center on two sides, overlooking Gateway Island Park and the surrounding greenspace. The center will feature sleek, modern finishes and include a large meeting space with wall-to-wall views that accommodates more than 300 people. A 20-person board room overlooking the front of the development will provide executive meeting space for office tenants. Full audio-visual amenities and a warming kitchen with serving areas will be available to conference center users.

"We have always envisioned an upscale event venue as a key amenity and feature of Fountains," said Graby. "With a goal to capture the beautiful views of the entire Gateway District and Gateway Island Park, a design emerged that showcases the fourth floor panoramic views and utilizes the open-air terrace for mingling or outside dining. While the main area will serve multiple uses for larger groups, the smaller boardroom will serve as an amenity for Fountains corporate tenants."

Construction of the conference center begins in May and will open in September. Online reservations will begin June 1 at the Fountains at Gateway website.

About i3 Verticals

Helping drive the convergence of software and payments, i3 Verticals delivers integrated payment and software solutions to small- and medium-sized businesses and other organizations in strategic vertical markets, such as education, non-profits, the public sector, property management, and healthcare and business-to-business ("B2B") payments markets. The Company processed approximately $10.3 billion in total payment volume in 2017.

About Fountains at Gateway

Fountains at Gateway is a 31-acre, Class A mixed-use development located at 1500 Medical Center Parkway in Murfreesboro, Tennessee. The $80 million development will include 400,000 square feet of office space in three office buildings, 70,000 square feet of retail in three free-standing buildings and street-level retail space in the office buildings, as well as a 100-unit apartment community and midsize business hotel.

Phase one of the development includes a four-story, 105,500-square-foot office building and two retail buildings totaling 33,200 square feet. The office building opened in January 2017 and the first retail building in June 2017. The second retail building is under construction and slated for completion in fall 2018.

Retail tenants include Burger Republic, Edible Arrangements, Fuzzy's Taco Shop, Kitchen Fresh, Nothing Bunt Cakes, The Soda Bar, Anytime Fitness, Board & Brush, e. Allen, Homegrown Marketplace, Murfreesboro Medical Clinic, and The Social Chair.

Fountains at Gateway is developed by Hearthstone Properties, a Murfreesboro commercial real estate investment company. The architect and contractor are H. Michael Hindman Architects and Solomon Builders, respectively. Hearthstone manages retail leasing, and Bill Adair at JLL manages office leasing.